Overview
- Vice Chancellor Lori W. Will ordered Ted Gill reinstated as CEO with full operational authority over Unknown Worlds and Subnautica 2’s Early Access, while declining to return co-founders Charlie Cleveland and Max McGuire to prior roles.
- Krafton must immediately restore Gill’s Steam publishing access and is enjoined from impeding his decision-making over the Early Access launch.
- The court held that Krafton breached the Equity Purchase Agreement by terminating key employees without valid cause and by improperly seizing operational control, rendering the July 1, 2025 board action ineffective.
- The earnout period tied to up to $250 million now runs at least through September 15, 2026, with a contractual option to extend to March 15, 2027 to account for Gill’s 258-day ouster.
- The opinion cites internal efforts including a task force called “Project X” and the CEO’s consultation with ChatGPT to explore avoiding the earnout; Krafton says it respectfully disagrees and is evaluating options as a second phase on damages proceeds.